Heard about the Child Trust Fund? Hardly any mothers and fathers markedly sparse number of parents seem to appreciate that all newborn children receive a free £250 voucher from the the State to place in a Child Trust Fund. The vouchercan be invested in any one of threekinds of CTF account, Stakeholder – a shares-based account that swapsinto cash, a savings account or a shares account. It is an excellent way to prepare financial requirements of a youngster
Scottish Friendly is an approved provider of the child trust fund. The Government is eager for the general public to have access to Stakeholder accounts and this is the type of account that we provide.
An attractive feature of the saving for children is that anyone – parents, grandparents, aunts and uncles, friends – may add to the Fund to a top limit of £1,200 per year to help boost the child’s Fund (once added, this money may not be withdrawn).
Only infants who were born on or after 1st September 2002 are permitted to start up a Children Trust Fund. If you have older kids 1st of September 2002 who are not entitled you could consider saving for them with a Child Bond – it’s a tax-free savings plan aiming for long-term growth. It is undoubtedly the case that investing for a child is a sensible means of preparing for possible future credit crunches.
